The board of directors of Okasan Securities Group Inc. on March 3, 2014 decided upon a change in representative directors effective April 1, 2014. Position of Mr. Tetsuo Kato is changed from President to Vice Chairman and position of Mr. Hiroyuki Shinshiba is changed from Senior Managing Director to President. Reason for change is to further improve the product provision capabilities, the capability to distribute high quality information, and the region-based marketing team of the Company, as a core member of the Okas Securities Group.